Sup, nerds!

Here’s what you’re getting in today’s edition:

• 💅 This is cool: ‘RNMD’ the meme coin degen’s new best friend

• 🔎 This seems important: What market crash? The Ethereum ETFs are BOOMING right now…

• 🤝 Partner: How To Turn Crypto Knowledge 👉 Into Crypto Gains​

• 🔪 Let's dissect this: Institutional investors now have access to staking

Terms used in this edition (click for an explanation, or ask Web(GPT)3!):
Airdrop, Meme coins, Staking.

💅 This is cool:

‘RNMD’ the Meme coin Degen’s New Best Friend

In one sentence: Meme coins are an attention game (and more volume = more attention) — RNDM allows anyone to deposit in the hundreds, and generate volume in the tens of thousands for any random token.

“It’s better to be loved for who you are, than to change to match what others want.”

— Chevy’s mom, after his crush laughed at his break dance performance in middle school.

This is a similar story 👇

Our buddy Vijay created a crypto integration (called RNDM) that’s a little too effective for its own good…

It works like this:

Say someone offers to sell 1 ETH at $2900, but all the buyers on an exchange are only willing to buy at $2899, RNDM comes in → makes up the $1 difference → and ekes out a small return from fees and airdrop allocations.

Do that thousands of times a day and you’re making a tidy profit!

Problem is, Vijay’s tech is too efficient for its own good. It takes a tiny amount of money and generates wild trading volume with it…

But exchanges don’t want a tiny amount of money locked on their platform (aka: Total Value Locked / TVL), they want as much TVL as humanly possible — cause it attracts more investment/users.

So now Vijay’s pivoting.

And the pivot speaks so clearly to our degenerate hearts that we not only want to talk about it, but we’ve even offered to write RNDM’s copy.

(No sponsorship, no token allocation — we just like the idea).

So, what’s the play? Let’s start here…

Meme coins are an attention game. You know it. We know it.

And more volume = more attention.

Problem is, it’s hard to generate volume on the cheap.

…but RNDM’s tech does exactly that.

Right now, it’s doing it for the majors (it’s generated 110M+ in volume across Base, Arbitrum, Avalanche, and Movement, with under $100k starting capital).

But from here on out, RNDM is coming for the memes — allowing anyone to deposit in the hundreds, and generate volume in the tens of thousands for any random token.

Making meme coin trading smoother (buyers/sellers get the prices they want), and growing the overall pie in the process.

Helluva concept!

🥇 Want the news before anyone else?

🔎 This seems important:

What Market Crash? The Ethereum ETFs Are BOOMING Right Now…

In one sentence: The ETH ETFs took in more $$$ yesterday than on their debut — totally ignoring the market implosion in the process, and setting up for a supply-crunch-driven boom.

“I didn’t hear no bell!”
— Rocky, Rocky V, 1990 Ethereum, market crash, 2024.

The ETH ETFs are coming in hotter than the milk we’re just now remembering we left in the car (ooops).

They took in more investor dollars yesterday than on their debut (with investors buying up 40,700 ETH) — totally ignoring the market implosion in the process!

Which continues to back up the theory we floated yesterday:

If the big-dogs of the traditional financial world are buying the dip, the bull run is still on.

So if all goes to plan — where to from here?

Simple: base → climb → crunch.

• Base = investors continuing to buy at what they see as a bargain, creating a price base that will be hard to break down from.

• Climb = as more investors try to get in at these prices, ETH will begin to recover.

• Crunch = supply crunch. At a certain point, ETH’s demand will outweigh its supply, pushing Ether to new all time highs.

Buckle up folks…

🤝 Partner:

How To Turn Crypto Knowledge 👉 Into Crypto Gains

“Knowledge is power.”

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But only till Monday. 

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🔪Let's dissect this:

Institutional Investors Now Have Access to Staking (Kinda)

In one sentence: Lido have just launched ‘Lido Institutional,’ a B2B-focused white glove service targeted at large customers like crypto funds and asset managers who hold ETH.

Want another story about institutions and ETH?

Here - have another story about institutions and ETH!

This time, we’re talking about Lido who have just launched ‘Lido Institutional,’ a B2B-focused white glove service targeted at large customers like crypto funds and asset managers who hold ETH.

Who/what is Lido?

Lido is the largest liquid staking platform which means it lets customers lock up their ETH, but also provides them with a special token - stETH - to hold, trade, use as collateral etc. while their ETH earns interest.

(Pretty neat).

According to data from Dune, Lido controls ~28.75% of all staked ETH on Ethereum.

And now they’re taking that dominant position and building on it by creating an offering specifically focused on institutions.

How’s the new offering work?

The main advantage of Lido Institutional seems to be that they’ve figure out a way to avoid the commingling of institutionally-owned stETH with stETH owned by Lido’s retail investors.

With the ETH ETFs being launched, that’s a huge unlock for institutions to get access to ETH, without literally buying ETH.

But the thing about ETH is, while historically its value does go up year-on-year, one of it’s main advantages is all of the other things you can do with it - like staking.

(Meanwhile, the ETH ETFs are not allowed to stake their ETH holdings).

So basically, Lido Institutional is a slightly more sophisticated alternative to the ETH ETFs for hedge funds to get access to ETH - plus it’s more decentralized and it almost certainly will provide a greater return (that’s the whole point of staking).

Pretty smart by Lido to ride the coattails of the explosion of ETH purchases by institutions.

(See article 2 👆).

What is Liquid Staking?